Warning: Use of undefined constant E_ALL - assumed 'E_ALL ' (this will throw an Error in a future version of PHP) in C:\inetpub\wwwroot\granite9P7i\wp-content\plugins\geko_core\library\Geko\Error.php on line 16

Warning: Use of undefined constant E_NOTICE - assumed ' E_NOTICE' (this will throw an Error in a future version of PHP) in C:\inetpub\wwwroot\granite9P7i\wp-content\plugins\geko_core\library\Geko\Error.php on line 16Granite Partners | Robert Nigol

Robert Nigol

November 20, 2013 1:33 am
Filed Under:

Former CEO of Henderson Structured Settlements

Our impetus for seeking an equity partner at Henderson was largely succession planning. Our¬†ownership structure was such that we were comprised of two partners with the majority of shares¬†and a minority partner.

Our desire, particularly that of my principal partner and the minority partner, both older than I,¬†was to extract some of the equity from the company to make retirement possible sooner rather¬†than later.

We were referred to Granite Partners and Doug Buchanan by a business associate who had¬†already had a successful working relationship with them.

Granite Partners had a great formula, with two important features:
1. we didn‚Äôt have to cede¬†100% of equity in our company; and
2. we could still operate as entrepreneurs.

They, naturally, did ask for greater accountability in reference to our business metrics and¬†strategies, but this actually served to make us better competitors in our marketplace.

Most important, Granite did not interfere with how we operated. Instead, they acted as partners,¬†‚Äúasking‚ÄĚ (as opposed to ‚Äútelling‚ÄĚ) us how they might help us grow our business. And help us¬†they did; most notably, they helped us execute two key market strategies that had been stalled¬†prior to their involvement.

The result was we never did better. We achieved an unprecedented 70% profit margin in 2010,¬†the last year Granite Partners was our equity partner. Granite Partners then sold their interest in¬†our company and others to a second tier equity partner, resulting in another financial ‚Äúkick‚ÄĚ for¬†my partners and me.

Overall, Doug and his partners were instrumental in letting us do what we needed to do, subject¬†to the aforementioned accountability. The end result was we were successful in our primary goal¬†of succession planning. Both of my former partners are now comfortably retired and, while I¬†am no longer with Henderson, my finances are such that I am free to look for my next venture,¬†unencumbered by the burden of worry associated with how I might support myself in the interim and¬†ultimately how I might retire.

I am generally a happy guy, and Doug and his team were instrumental in making me an even¬†happier guy. Working with them was business better than usual.